Indra Group Acquires Hispasat Stake for €725 Million
Deal News | Feb 07, 2025 | Iberian Lawyer
Indra Group has executed a strategic acquisition by agreeing to purchase an 89.68% stake in Hispasat, previously owned by Redeia, for €725 million. The deal also involves acquiring 43% of Hisdesat, in addition to Indra's existing 7% stake in this company. A conditional requirement for this acquisition is the financial consolidation of Hisdesat within Indra's accounts. The acquisition aligns with Indra's aspiration of dominating communications in space, a sector gaining significant traction in civilian and military applications. Following their complete acquisition of Deimos earlier in 2024, Indra aims to incorporate Hispasat and Hisdesat into their new venture, Indra Space. The transaction is anticipated to result in synergies of €20-30 million in additional EBITDA by 2026, with projections to reach €50-70 million by 2030. Additionally, by 2026, these companies are projected to contribute €400 million in revenue and generate €190 million in EBITDA and €50 million in EBIT. Legal advice for Indra was provided by Gómez-Acebo & Pombo, led by their corporate partner Guillermo Guerra and supported by a specialized team from different corporate and tax disciplines.
Sectors
- Aerospace and Defense
- Telecommunications
- Corporate Finance Advisory
Geography
- Spain – Indra Group, Hispasat, Hisdesat, and Redeia are all Spanish companies, situating the transaction within this European country.
Industry
- Aerospace and Defense – Indra Group's acquisition of Hispasat and Hisdesat supports their ambitions in space communications within both the civilian and military sectors.
- Telecommunications – Hispasat, being a satellite communications provider, positions the acquisition squarely within the telecommunications industry.
- Corporate Finance Advisory – The involvement of Gómez-Acebo & Pombo providing legal advice in the acquisition highlights the corporate finance advisory sector.
Financials
- 725 million euros – The acquisition price for an 89.68% stake in Hispasat and 43% in Hisdesat.
- 20-30 million euros – Expected EBITDA synergies by 2026 from the acquisition.
- 50-70 million euros – Expected EBITDA synergies by 2030 from the acquisition.
- 400 million euros – Projected revenue contribution from Hispasat and Hisdesat by 2026.
- 190 million euros – Projected EBITDA contribution from Hispasat and Hisdesat by 2026.
- 50 million euros – Projected EBIT contribution from Hispasat and Hisdesat by 2026.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Indra Group | Buyer | Company | Indra Group is a Spanish multinational company focusing on consulting and technology, particularly in the domains of transport, defense, and security. |
| Hispasat | Target Company | Company | Hispasat is a Spanish satellite operator providing satellite communication services. |
| Redeia | Selling Company | Company | Redeia is a Spanish company, previously holding a majority stake in Hispasat. |
| Gómez-Acebo & Pombo | Legal Advisor | Company | A Spanish law firm that provided legal advisory services to Indra Group in this transaction. |
| Hisdesat | Target Company | Company | Hisdesat provides satellite communication services, particularly for defense and government applications. |